history
Will the 21st Century Nabobs Win Their War on Public Accountability? Prime Badge
12.09.25 | 3:23 pm

A friend of mine ran an analogy by me which really resonated. Perhaps others have drawn the comparison.

In the late 18th century, what would later evolve into the British Raj was coalescing into full British domination of the Indian subcontinent — especially after two key battles in 1757 and 1764 waged not by Britain but a private company called the British East India Company. That made it possible for what were often British men of relatively modest origins to build almost unimaginably large fortunes. Life in India was a matter of extremes for British operatives of the East India Company, a joint stock company which owned what were in effect Britain’s Indian colonies. Countless young Brits went out to India and died in short order. But if they could avoid dying, in a relatively few years they could build these unimaginable fortunes. None of them wanted to stay. Virtually no Britons died of old age in India at the time. The whole point was to make as much money as possible in as little time as possible and get back to Great Britain while they were still alive. Then they would pour that money into an estate and land.

They were called “nabobs,” a corruption of “nawab,” a title in the Mughal Empire which originally referred to a provincial governor but evolved into something more like a hereditary lord as Mughal rule disintegrated.

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WILMINGTON, CALIFORNIA - SEPTEMBER 05: A member of Sheet Metal Workers Local 105 walks in the annual Labor Day Parade hosted by the Los Angeles/Long Beach Harbor Labor Coalition on September 5, 2022 in Wilmington, California. Around 5,000 were expected to attend the event, which was held amid an Excessive Heat Warning issued by the National Weather Service for most of Southern California through September 7. Labor Day was first celebrated in the U.S. in 1882 in New York City. (Photo by Mario Tama/Getty Images) WILMINGTON, CALIFORNIA - SEPTEMBER 05: A member of Sheet Metal Workers Local 105 walks in the annual Labor Day Parade hosted by the Los Angeles/Long Beach Harbor Labor Coalition on September 5, 2022 in Wilmington, California. Around 5,000 were expected to attend the event, which was held amid an Excessive Heat Warning issued by the National Weather Service for most of Southern California through September 7. Labor Day was first celebrated in the U.S. in 1882 in New York City. (Photo by Mario Tama/Getty Images)
Empty chairs and desks in a high school classroom (Photo by James Leynse/Corbis via Getty Images) Empty chairs and desks in a high school classroom (Photo by James Leynse/Corbis via Getty Images)
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